Edwards Lifesciences (NYSE:EW) Cut to “Hold” at TD Cowen

TD Cowen cut shares of Edwards Lifesciences (NYSE:EW) from a buy rating to a hold rating in a research note published on Thursday morning, Marketbeat Ratings reports. TD Cowen currently has $70.00 target price on the medical research company’s stock, down from their prior target price of $100.00.

Several other research firms have also commented on EW. Barclays raised their price objective on shares of Edwards Lifesciences from $100.00 to $101.00 and gave the company an overweight rating in a research note on Tuesday, May 7th. Canaccord Genuity Group dropped their price target on shares of Edwards Lifesciences from $85.00 to $77.00 and set a hold rating for the company in a research note on Thursday. Royal Bank of Canada reduced their price objective on Edwards Lifesciences from $101.00 to $85.00 and set an outperform rating on the stock in a research note on Thursday. Piper Sandler lowered their target price on Edwards Lifesciences from $88.00 to $73.00 and set a neutral rating for the company in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Edwards Lifesciences from $103.00 to $85.00 and set a buy rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Edwards Lifesciences has a consensus rating of Hold and a consensus target price of $82.10.

Edwards Lifesciences Price Performance

Edwards Lifesciences stock opened at $62.37 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.67 and a current ratio of 3.71. The company has a market capitalization of $37.58 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 2.31 and a beta of 1.11. The company’s 50 day simple moving average is $87.98 and its 200-day simple moving average is $86.92. Edwards Lifesciences has a 1 year low of $58.93 and a 1 year high of $96.12.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Edwards Lifesciences had a return on equity of 22.35% and a net margin of 24.55%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. As a group, equities research analysts expect that Edwards Lifesciences will post 2.71 earnings per share for the current year.

Insider Transactions at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the sale, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $4,378,659.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $93.29, for a total value of $466,450.00. Following the completion of the sale, the vice president now owns 46,936 shares in the company, valued at approximately $4,378,659.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Bernard J. Zovighian sold 8,617 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $87.68, for a total transaction of $755,538.56. Following the transaction, the chief executive officer now directly owns 68,218 shares in the company, valued at $5,981,354.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,099 shares of company stock worth $7,003,553. Corporate insiders own 1.29% of the company’s stock.

Institutional Trading of Edwards Lifesciences

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Edwards Lifesciences by 4.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 330,711 shares of the medical research company’s stock valued at $31,603,000 after purchasing an additional 14,087 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Edwards Lifesciences by 151.2% during the first quarter. Empowered Funds LLC now owns 20,123 shares of the medical research company’s stock worth $1,923,000 after purchasing an additional 12,112 shares during the period. Telos Capital Management Inc. grew its position in Edwards Lifesciences by 158.2% in the 4th quarter. Telos Capital Management Inc. now owns 91,405 shares of the medical research company’s stock valued at $6,970,000 after buying an additional 56,000 shares during the last quarter. Arlington Trust Co LLC grew its position in Edwards Lifesciences by 5,092.4% in the 4th quarter. Arlington Trust Co LLC now owns 12,306 shares of the medical research company’s stock valued at $938,000 after buying an additional 12,069 shares during the last quarter. Finally, HealthInvest Partners AB purchased a new position in Edwards Lifesciences during the 4th quarter worth $1,587,000. 79.46% of the stock is owned by hedge funds and other institutional investors.

Edwards Lifesciences Company Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.